Momentum is building in India’s trade diplomacy, headlined by the interim US pact potentially signing in March for an April debut. Minister Piyush Goyal shared this timeline Friday, alongside details of upcoming official meetings on February 23 to seal the legalities.
Echoing an initial joint communique this month, US tariffs on Indian shipments drop from 50% to 18%, unlocking opportunities for exporters. Goyal envisions trade dividends flowing to grassroots levels—MSMEs, startups, and beyond—while propelling Indian goods worldwide.
He reiterated the deal’s balanced ethos, crafted sans sovereignty trade-offs, nurturing consumer benefits and export momentum. India’s economic muscle ($4 trillion) ensured safeguards for strategic sectors.
Notably omitted: sensitive crops like rice, wheat, maize, bajra, dairy. US gets zero breaks on farm proteins or grains. Selective entry for non-surplus imports—almonds, pistachios, niche spirits—with import price floors.
Goyal also updated on FTAs: UK and Oman primed for April, New Zealand targeting September. This multi-pronged strategy positions India as a trade powerhouse, fostering inclusive growth and global integration.